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ACC 280 Final (2nd Set) 50 Questions
$ 15.00

The accounting process is correctly sequenced as

a. identification, communication, recording.

b. recording, communication, identification.

c. identification, recording, communication.

d. communication, recording, identification.

 

2. If total liabilities increased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?

a. $20,000 decrease

b. $20,000 increase

c. $25,000 increase

d. $30,000 increase

 

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